ETFs

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Sees Large Volume Increase - Should You Buy?

Published October 28, 2024

On Monday, shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a notable increase in trading volume. A total of 38,667,719 shares were traded, marking a 6% rise compared to the previous session's volume of 36,471,043 shares. The stock price was last recorded at $14.09, having risen from a previous close of $13.80.

Stock Performance of Direxion Daily TSLA Bull 2X Shares

The stock has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $9.77. Direxion Daily TSLA Bull 2X Shares has a market capitalization of $2.80 billion, a PE ratio of 40.38, and a beta of -5.14.

Dividend Update for Direxion Daily TSLA Bull 2X Shares

Recently, the company announced an increase in its quarterly dividend, which was paid to shareholders on October 1st. Those on the record as of September 24th received a dividend of $0.0803 per share, translating to an annualized dividend of $0.32 and a yield of 2.34%. This is an increase compared to the previous quarterly dividend of $0.08.

Hedge Fund Activities Related to Direxion Daily TSLA Bull 2X Shares

Institutional investors have actively adjusted their positions in Direxion Daily TSLA Bull 2X Shares. Headlands Technologies LLC took a new stake in the first quarter worth approximately $54,000. Beacon Capital Management LLC also acquired a new position during the second quarter valued at around $120,000. Additionally, AE Wealth Management LLC raised its stake by 16.0% during the same quarter, now holding 14,476 shares valued at approximately $133,000 after purchasing an additional 2,000 shares. B. Riley Wealth Advisors Inc. made a new purchase worth $213,000 in the second quarter, while Sloy Dahl & Holst LLC bought a stake worth $223,000 during the first quarter.

Company Overview of Direxion Daily TSLA Bull 2X Shares

Direxion Daily TSLA Bull 2X Shares is an investment vehicle aimed at providing a leveraged return based on the performance of Tesla Inc.

Final Thoughts on Investing in Direxion Daily TSLA Bull 2X Shares

If you're considering an investment of $1,000 in Direxion Daily TSLA Bull 2X Shares, it may be wise to reevaluate your options. While the stock currently holds a "hold" rating from analysts, there are other stocks viewed as better opportunities for investment. Keeping informed about market trends and analyst recommendations can help guide investment decisions.

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